Non-Stationary Wealth Dynamics and Taxation in the U.S.

Abstract:

We model forces driving wealth inequality in a non-stationary setup for the past six decades in the U.S., including dynamics in earnings, heterogeneous returns, differential saving rates and regime switches in income taxes. We use the dynamics in wealth inequality as moments to estimate importance of different channels, and do not take any year as a steady state. In the estimation we carefully calculate effective tax rates along the income distribution taking into account changes in government transfers and public expenses. We find that dynamics in taxation play a significant role in explaining changes in the top wealth inequality, in particular the evolving racial gaps in wealth.

报告时间：2024年5月22日，下午2:00        

线下地点：9499www威尼斯6-210会议室

主办单位：9499www威尼斯、浙江财经大学数量经济研究中心

嘉宾简介：

罗弥，北京大学光华管理学院助理教授，纽约大学经济学博士，曾在Emory大学任教。长期从事宏观经济学，尤其是收入和财富不平等的研究。其研究成果发表于American Economic Review、 American Economic Review Papers & Proceedings等国际顶尖经济学期刊，并有多篇工作论文在Review of Economic Studies等国际顶尖期刊返修。